SIPCO, LLC Announces Minority Ownership Agreement with GE and MPEG LA
ATLANTA, March 6, 2012 /PRNewswire/ -- SIPCO, LLC is pleased to announce that GE, acting through its Licensing operation, and MPEG LA, LLC, through its wholly owned subsidiary Tagivan II, have each acquired a minority ownership position in SIPCO and IntusIQ. SIPCO and IntusIQ, privately held companies, are prominent developers in providing leading edge wireless technology solutions. Financial terms of the transaction were not disclosed.
According to T. David Petite, CEO of SIPCO, LLC, "We are thrilled to welcome MPEG LA and GE Licensing to the SIPCO family. Since 2003, we have remained committed to the development of leading technologies for use in a wide-range of groundbreaking energy efficiency and wireless applications. With GE, a leader in innovative technology, and MPEG LA, a leader in technology licensing, we can ensure access to and accelerate delivery of our solutions to the market."
Under the terms of the agreement, SIPCO has designated MPEG LA as its Licensing Administrator. Through MPEG LA, SIPCO's extensive portfolio of innovations will continue to be available for license.
"We are delighted to have been selected as the Licensing Administrator for SIPCO's patent portfolio," said Larry Horn, President and CEO, MPEG LA. "With MPEG LA's expertise, we will ensure that these advanced technologies remain available to the marketplace as catalysts for innovation and new product development."
About SIPCO and IntusIQ
SIPCO, LLC and IntusIQ, headquartered in Atlanta, Georgia, are led by renowned Native American independent inventor and successful entrepreneur T. David Petite. Mr. Petite has been active in the wireless industry for over a decade and has developed many leading edge solutions. His inventions are deployed in various products and networks throughout the country and have been licensed to numerous companies.
SIPCO and IntusIQ, formerly known as IPCO, LLC, are leading developers of wireless mesh technology, providing technology to customers and licensees. SIPCO and IntusIQ provide critical patent rights through the ESSENTIAL WIRELESS MESH™ Patent Portfolio for various wireless infrastructure systems and service applications. For more information visit http://www.sipcollc.com and http://www.intusiq.com.
About MPEG LA
MPEG LA is a leader in alternative technology licenses, enabling users to acquire worldwide patent rights necessary for a technology standard or platform from multiple patent owners in a single transaction as an alternative to negotiating individual licenses. Wherever an independently administered one-stop patent license would provide a convenient marketplace alternative to assist users with implementation of their technology choices, the licensing model pioneered and employed by MPEG LA may provide a solution. By balancing patent users' interest in reasonable access with patent owners' interest in reasonable return, MPEG LA creates the opportunity for adoption of new technologies and fuels innovation. MPEG LA's initial licensing program for MPEG-2 digital video compression helped produce the most widely employed standard in consumer electronics history, and the MPEG LA® Licensing Model has become the template for addressing other technologies. Today MPEG LA operates licensing programs consisting of more than 6,000 patents in 74 countries with 157 Licensors and some 5,000 Licensees. For more information, please refer to http://www.mpegla.com
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
GE Licensing is dedicated to creating new spaces for GE technology, driving the commercialization and development of licensing portfolios for GE in adjacent markets. In collaboration with GE businesses, the Licensing team develops and invests in opportunities to build creative solutions in GE focus areas, such as ecomagination and healthymagination.
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